Accumulated loss of Bosanski Brod Refinery is 622 Million BAM

March 9, 2019 7:00 PM

The accumulated loss of Bosanski Brod Refinery at the end of last year amounted to 622.2 million BAM, and this company ended last year with the new 10.8 million BAM of financial minus.

“Rafineria had an accumulated loss of 622.2 million BAM at the end of December 2018, net loss amounted to 10.8 million BAM, while short-term liabilities of the company were higher than traded assets by 40.4 million marks BAM. These facts point to the existence of significant uncertainty that may cast doubt on the ability of the company to operate on a business-to-business basis, “was stated by the BDO auditor’s report on the Oil Refinery’s work in 2018.

Bosanski Brod Oil Rafinery refined a total of 675 thousand tons of crude oil and in 2017, a total of 881 thousand tons.

This company has long-term liabilities on the basis of several million credits to its parent company (Njeftegazinkor), or a related Russian company (Zarubežneft).

Revenues from sales of affiliated legal entities in 2018 amounted to 63,7 million  BAM and mostly related to income generated from service processing of crude oil and for the account of the affiliated legal entity “Optima group”.

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